2 contract law assignments Essay Example | Topics and Well Written Essays - 3750 words

2 contract law assignments - Essay Example However, that right would have arisen by virtue of common law principles rather than statutory law as contained in the Contracts (Rights of Third Parties) Act 1999. Owen Fox explains that ‘for many years, the doctrine of privity of contract was a fundamental feature of English law, meaning that it was only the parties to a contract who could rely upon or enforce the terms of that contract. The consequence of this was that if a third party suffered a loss because the contracting parties failed to fulfil their obligations to each other, then the third party had no recourse under the contract.’2 This is the background against which Sarah Jones Development’s claim for damages against Archibald must be examined. There were and are exceptions to the privity of contract rule. One exception is to be found in circumstances where a collateral contract exists. For example when there is a contract between two parties one of the parties thereto may have a collateral contract with a third party in respect of the same matters contained in the primary contract. Shanklin Pier v Detal Products [1951] 854 provides a good example. In this case the plaintiff hired a contractor for the purpose of painting a pier. The painting contractor was instructed to purchase the paint from the defendants. The defendants informed the plaintiffs that the paint would last for seven years when in fact it only lasted for three months. As a result the plaintiff took the defendants to court despite the absence of a contract between them and defendants. 3 The court ruled that the plaintiffs could sue the defendants for damages on the basis of a collateral contract. The plaintiff had provided consideration in exchange for the defendants’ assurance of the quality of the paint by indorsing a contract with the painting contractor which specifically required that they purchase the defendants’ paint.4 The general tone of judicial findings was that there must be an intention to form a

The issue of corporporate responsibility Essay Example | Topics and Well Written Essays - 1000 words

The issue of corporporate responsibility - Essay Example Sustainability, at its core, reflects a more integrated and efficient management structure that would be adept to weather the economic downturn. Quoting from the World Economic Forum report, Smith (2003) elucidates three key pressures that impel businesses to incorporate CSR viz.: linkages between corporate competitiveness, corporate governance, and corporate citizenship. a) Every business decision should embed the sustainability criteria: Porter and Kramer (2006) articulate: "the essential test that should guide CSR, is not whether a cause is worthy, but whether, it presents an opportunity to create shared value, that is, a meaningful benefit for society that also is valuable to the business." The Patagonia's mission statement captures strategic alignment of CSR with business: b) Build Brand through total wealth creation: Businesses ought to maximize the wealth all stakeholders through effective community investment and poverty alleviation programs. The wealth creation should be woven around green policies through innovative projects that protect environmental assets for the long term. c) Develop environmental projects focusing on economic exclusion: There's an urgent need for companies to refocus on their corporate responsibility to produce a pronounced positive impact on environment protection, and especially target eco... c) Develop environmental projects focusing on economic exclusion: There's an urgent need for companies to refocus on their corporate responsibility to produce a pronounced positive impact on environment protection, and especially target economically deprived areas for holistic growth. d) Partner More effectively: Partnering with government and NGOs can ease to an extent, the project funding issues, and dovetail the company's businesses with national growth strategies. Such an approach would also bring credibility for activities, and help gain public trust. e) Focus on governance and accountability: Especially in times of recession, the scrutinizing eyes of media, shareholders and government would continue to hover on companies, demanding transparency and accountability. Guarnieri and Kao (2008) noted that the 2007 Top Companies for Leaders are poignantly strategic and use CSR to help attract, engage and retain leadership talent. Leaders in such companies are encouraged to take leadership roles in social and community organizations. CSR thus becomes a critical component for leadership development strategy. CSR can be the best starting point for integrating societal considerations with business operations (Porter, & Kramer, 2006). Especially, in economically hard times, companies would be forced to reflect on their core priority businesses, and customers. In such situations, sustainability programmes can help to sieve the strategic business areas, and relook at the supply chain management with a "sustainability screening policy." Corporate responsibility can thus help pruning overheads, and effect cost savings through carbon accounting. Conflict between Luxury Branding and Environmental Concern Pinault spearheading the case for sustainable luxury believes that